The number of variables involved in data analytics increases as the data involved in the analytics become complex. Further, this pushes the limits of current approaches and capabilities. Here is an article on the top data analytics trends that will dominate the future.
These trends would have an important & disruptive potential over the next 3 years. Data analytics leaders should investigate their business impacts and adjust their business strategies & choose their data analytics solutions accordingly.
Trends in Data Analytics that stand out
1) Augmented Analytics
Augmented analytics is a combination of machine intelligence and human capabilities. Many organizations have started leveraging the power of technologies such as ML, NLP & AI. This one of the trends which is very much useful in agriculture and implementing smart cities.
2) Data Quality Management (DQM)
Data quality management is one of the important trends among the analytics industry. It is not only important to gather as much information possible, but the quality and the context in which data is being used and interpreted serves as the focus for the future of business intelligence.
3) Data Governance
The increasing number of data sources makes data management a critical aspect. Data lays the foundation of business choices. So, bad business decisions can bring disaster if the data is of low quality. Data governance helps to restrict data access, so only specific individuals can approach the data. Consequently, the data becomes reliable, yielding better business choices.
4) Plug N’ Play Analytics Solutions
Enterprises prefer pre-loaded analytics solutions that can be useful to multiple departments. And the reason being a lot of effort and time to implement analytics projects. Moreover, there would be scheduled downtimes despite a staggered implementation. So, the companies should formulate the right analytics strategy to choose the correct analytics solution.
5) Integrated Capabilities
Embedded analytics with integrated capabilities is one of the emerging trends. The technology paves way to intelligent operations by integrating data analytics into the present business framework such as CRMs, ERPs, financial programming, and marketing automation.
6) Collaborative BI
Employees need to interact differently as they face virtual and competitive environments. As a result, business intelligence has taken the centerstage by providing a combination of collaboration tools, including 2.0 technologies and social media. For this purpose, these tools are developed with a goal to address the challenges from a fast-track business. Collaborative BI also introduces “self-service BI”, where the employees need not depend on an IT team to access, interpret, and understand the data.
7) NLP based Analytical Chatbots
Analytics chatbots that deliver the answers to user questions have a huge potential. These bots are based on machine-learning technologies. Furthermore, with a greater number of interactions, the chatbot learns with every conversation and provides better insights.
8) Mobile BI
Mobile business intelligence is becoming an essential aspect of BI solutions. It enables real-time access to insights, ensuring faster reactions to events. Moreover, it gives freedom for employees to access their data anytime anywhere.